GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND) Files An 8-K Other Events

GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND) Files An 8-K Other Events
Item 8.01 Other Events

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Appointments of General Counsel and Vice President of Franchise Development

On July 14, 2017, Generation Next Franchise Brands, Inc. (the “Company”) issued a press release, attached hereto as Exhibit 99.1, announcing the hiring of its first full-time General Counsel as well as a new Vice President of Franchise Development. Anthony G. Mauriello became the Company’s General Counsel on June 30, 2017 and Tabitha Burke became the Company’s Vice President of Franchise Development on July 10, 2017.

Prior to becoming General Counsel, Mr. Mauriello spent the first 14 years of his career in private practice with international law firms including, Skadden Arps Slate Meagher & Flom, Latham & Watkins and Wilson Sonsini Goodrich & Rosati. He earned his Juris Doctorate from Duke University School of law and his Bachelor of Science in Psychology from The Pennsylvania State University. Before joining the Company, Ms. Burke previously worked in senior roles at both Flippin’ Pizza International and HDOS Enterprises. She earned her Bachelor of Arts from Phoenix University in San Diego.

Litigation Settlement

On July 7, 2017, the Company and certain other named parties (collectively, with the Company, the “Defendants”) entered into a Settlement Agreement and General Mutual Release of All Claims (the “Agreement”) with a franchisee (the “Franchisee”). On May 28, 2014, the Franchisee had filed a complaint in the San Diego Superior Court against the Defendants. The Agreement resolves any all claims and disputes between the parties arising out of their relationship, including the aforementioned complaint filed by the Franchisee.

Under the terms of the Agreement, each of the parties was released from all claims by the other parties. The parties also agreed to certain financial arrangements, the specifics of which are confidential per the terms of the Agreement.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements within the meaning of Section27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as “may,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “project,” “will,” “projections,” “estimate,” or similar expressions constitute forward-looking statements. Such forward-looking statements are subject to significant risks and uncertainties, and actual results may differ materially from the results anticipated in the forward-looking statements. Differences may result from actions taken by Generation Next Franchise Brands, as well as from risks and uncertainties beyond the company’s control. Factors that could cause results to differ materially from those anticipated in forward-looking statements can be found under the caption “Risk Factors” in Generation Next Franchise Brands, Inc.’s Annual Report on Form 10-K for the year ended June 30, 2016 and in the company’s other filings with the Securities and Exchange Commission. Except as may be required by law, the company does not intend, nor undertake any duty, to update this information to reflect future events or circumstances.

Item 9.01 Financial Statement and Exhibits.

(d) Exhibits.

Exhibit

No.

Description

99.1

Press Release, dated July 14, 2017.


Generation NEXT Franchise Brands, Inc. Exhibit
EX-99.1 2 fhv_ex991.htm PRESS RELEASE fhv_ex991.htmEXHIBIT 99.1   FOR IMMEDIATE RELEASE   Media Contact: [email protected]     GENERATION NEXT FRANCHISE BRANDS HIRES ANTHONY MAURIELLO AS GENERAL COUNSEL AND TABITHA BURKE AS VICE PRESIDENT OF FRANCHISE DEVELOPMENT   Key Executive Additions Bring Added Experience and Depth to San Diego-Based Franchisor   Friday,…
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About GENERATION NEXT FRANCHISE BRANDS, INC. (OTCMKTS:VEND)

Generation NEXT Franchise Brands, Inc. formerly Fresh Healthy Vending International, Inc., is a franchise development company and operator of Company-owned vending machines, micro markets and frozen yogurt robots. The Company provides a portfolio of fresh, organic and all-natural snacks and drinks. The micro market provides fresh full meal options, such as salads, sandwiches and wraps. The micro market is designed for implementation in corporate environments, hotel lobbies, auto dealerships and other retail environments. The Company is focused on setting up national distribution partners to carry the consumable products required for the frozen yogurt robots. It outsources non-core functions to third-party vendors. Its services include machine manufacturing, transport, location set-up, maintenance, inventory, food management and ordering, payment processing and cash management. As of June 30, 2016, the Company and its franchisees operated over 3,000 vending machines and micro markets.

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